How do you know that your legacy will be upheld after you’re no longer there to attend to it? It can be hard to know. All we can ever do is place our trust in the measures we leave behind. One of the most important measures we can take to ensure the safety of our legacies is to create a will and appoint a personal representative to carry it out. The question is: How do you choose the right person?
Choose Someone You Can Count On
Appointing a personal representative may feel very emotional. After all, you’re trusting this person with your future when you can no longer act on your own behalf. It’s a big decision that carries a lot of responsibility and though it may be tempting to give that responsibility to the person you hold dearest, it’s best to choose someone who is reliable above all else. That person may be one in the same, but if they aren’t then choose the person you can count on.
Choose Someone Who is Up to the Task
Your personal representative should be someone who can carry out your will when you pass on. Choosing a young, healthy person is often a good choice. Though a spouse may feel more private, they may not be up to the task when all is said and done. They may be facing untold grief or illness of their own. The process of dealing with probate court can be a burden, so make sure the person you choose is ready to shoulder it.
Choose Someone Who Has Their Finances in Order
In many cases, bonding is required by probate court to ensure that the personal representative does not cheat beneficiaries out of their inheritance. To be bonded, one must be in good financial standing, as is often the case with many types of insurance and credit. If the person you choose for your personal representative does not have a good financial history, they may not be able to carry out the will as you intended. Someone else will need to be chosen.
DK Rus is Here to Help You with Estate Planning
Whether you’re laying out your will, or you’re looking to put together a trust, we can help you. With over 25 years of experience with estate planning and many other aspects of the legal system, DK Rus is your home for a wide variety of legal advice. Contact us today to learn more.